April 20, 2023 - Bannon's War Room
48:51
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
| Pray for our enemies, because we're going medieval on these people. | ||
| I got a free shot at all these networks lying about the people. | ||
|
unidentified
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The people have had a belly full of it. | |
| I know you don't like hearing that. | ||
| I know you try to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big lie? | ||
| MAGA Media. I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
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War Room, here's your host, Stephen K. Bannon. | |
| Thanks for joining us. | ||
| We've got his budget in recent days and now his debt limit plan. | ||
| And we wanted to get the White House reaction to what he has proposed. | ||
| And can you tell us, are there any meeting scheduled right now between the president and the House Speaker as the clock ticks towards the fiscal deadline? | ||
| So a couple of things I want to say, Jonathan. | ||
| Let me just react to the blueprint, the legislation that Speaker McCarthy and the MAGA wing of his conference, that's what we saw. | ||
| They came together. He aligned himself with them and put forth a cruel proposal, a proposal that is going to devastate working American families. | ||
|
unidentified
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That's what this proposal is going to do. | |
| At the same time, it will hold America's economy hostage so that they can take a hatchet To veteran services, to Meals on Wheels, to education, to cancer research, to law enforcement. | ||
| That's what they put forth for the American people. | ||
| Now, you're asking me about a potential meeting. | ||
| Look, we're going to continue to take a look at it. | ||
| At this legislation, we're going to analyze the impacts that it will have on, again, veterans services, again, education, cancer research. | ||
| And you know what? The president, as you've heard the president say many times, don't tell me what you value. | ||
| Show me your budget and I'll tell you what you value. | ||
| Well, they showed us what they value. | ||
| Speaker McCarthy and MAGA Republicans showed us what they valued. | ||
| And this is what the American people have to look at, right? | ||
| And so we are going to continue to make sure, we saw this in the president's budget, that we lower costs for Americans, that he is continuing to make sure that we fight to lower the deficit. | ||
|
unidentified
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That's what he put forth in his proposal. | |
| In his proposal, he's going to lower the deficit by $3 billion over 10 years. | ||
| He has showed us our value, and we're going to continue to be happy to have that conversation about the budget. | ||
| But when it comes to the debt limit, they need to, Speaker McCarthy needs to put a piece of legislation on the floor to deal with the debt limit, to make sure that we do not default, something that he did three times before in the last administration. | ||
| Certainly his voting record speaks for itself, but with the fundamental impasse here and a disagreement as to what you guys are even negotiating, White House versus the House Republicans, what do you say to those who are really growing alarmed at the time? | ||
| Because we got an update this week that there's an estimation that because of lighter-than-expected tax returns heading into the Treasury, the U.S. may be on the verge of default come June, not August as we thought, but come June, just maybe six or so weeks away. | ||
|
unidentified
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Again, Jonathan, I'm going to be very clear. | |
| We have not missed words on this. | ||
| We have been clear for the past six plus more weeks, which is Speaker McCarthy needs to stop playing chicken with the full faith and credit of our nation. | ||
| He needs to put forth immediately a piece of legislation so that we do not default. | ||
| This happened. Democrats joined Republicans last administration three times to get this done. | ||
| The president said this on Monday as well, which is Speaker McCarthy will be the first speaker to threaten a default on our nation. | ||
| So this is something that is their constitutional duty to do. | ||
| They can do this. | ||
| They could immediately put, again, a bill on the floor to avoid a default. | ||
| And that is on Congress to do. | ||
| Again, it is their constitutional duty to get this done. | ||
| Yeah, I want Miki to look at what's up right now and if people are listening on the radio. | ||
| What we have up is a chart that shows that the debt ceiling has been raised since 1960 29 times under Democratic presidents, but 49 times Under Republican presidents, 49 times. | ||
| And so now suddenly these Republicans that broke all records for deficits and debts under Donald Trump are suddenly claiming that they really care about deficits and that it doesn't wash. | ||
| By the way, I said this in 2017, 2018, 2019 and 2020. | ||
| About Republicans, don't claim. | ||
| If you're not going to fight your own Republican president who's a big spender, breaking records every year with budget-busting budgets, don't do it when there's a Democrat in office. | ||
| But now they're doing it, and as Corrine said, they're actually risking The full faith and credit of the United States of America. | ||
| And what does that mean? | ||
| Well, that means three million Americans will likely lose their jobs if there's this default. | ||
| And we face the economic consequences. | ||
| Three million Americans. That means if you have a 401k, on average, you're going to lose about $20,000. | ||
| Kevin McCarthy and this Republican Congress, who spent like drunken socialists when Donald Trump was president. | ||
| They're going to cost you $20,000. | ||
| I can't take any more of the managers. | ||
| Denver, if you could just hold it right there, I'm going to come back to that. | ||
| It's Thursday, 20 April, year of our Lord, 2023. | ||
| I told you we were going to get into this and it's going to be a firestorm. | ||
| The firestorm is kicking off. | ||
| Speaker McCarthy has finally put together the skeleton of a plan. | ||
| You see Ari, the immediate blowback. | ||
| We've got Kerry Sheffield and Steve Cortez to start off to kind of frame this for us. | ||
| Let's start with Cortez. Cortez, Kevin McCarthy has put out something that he's trying to get to 218 on. | ||
| And compliments to Speaker McCarthy. | ||
| He has followed closer to the House Freedom Caucus in the hardcore than to the moderates. | ||
| And Kerry is going to talk about in a second some of these misdirection plays on commissions and things like that. | ||
| But give me your assessment of Joe Scarborough because this is going to be the barrage you're going to hear. | ||
| That we're jeopardizing the full faith and credit. | ||
| We're going to default. This is all the Republicans fault. | ||
| This is these and these meanies are taking away meals on wheels and all of it. | ||
| Give us your your first cut assessment on the opening salvo here, sir. | ||
| Sure. A couple of really important points. | ||
| First, on default, as you have correctly pointed out many, many times, and I would say correctly predicted, because I think you were the first major figure in politics to talk about this, we do not have to default. | ||
| If we default, that is a choice of the White House. | ||
| Why? Because we can prioritize payments. | ||
| Because tax receipts continue to flow in to the United States Treasury, not at the rate that they should be because of the weakness of Joe Biden's economy. | ||
| We showed that statistic yesterday. | ||
| But nonetheless, tax receipts come in, plenty to pay for the things that the United States needs to do, including servicing the debt obligation. | ||
| So that's number one. We do not have to default. | ||
| But number two, to this important point. | ||
| about the Democrats, Corinne Jean-Pierre, Joe Biden, the corporate media, all of them screaming that there's something draconian or cruel about going back to last year's spending level. | ||
| Now, I don't remember any of them, Steve, in 2022 saying this is a cruel budget that we are passing. | ||
| At the behest of Joe Biden, I don't remember any of them saying that there was cruelty in the spending levels of 2022. | ||
| So I think what Speaker McCarthy has put forward here is a very, very sensible—now, if it were up to me, I would be a bit more aggressive, but I understand he's got to get to a majority, and that will not be easy with an only five-seat majority lead for Republicans in the House. | ||
| But a very sensible starting point to say, hey, let's all agree that last year, as exorbitant as that spending was, we're not going to make it worse. | ||
| So it's sort of like doctors saying the Hippocratic Oath, first do no harm, okay? | ||
| We're not going to make it any worse than that. | ||
| That is a very sensible starting point. | ||
| And for the leftists to come out and the corporate media cheerleading them to try to say that that is somehow cruel or that is somehow a cut. | ||
| Remember that too, Steve. This is so important. | ||
| According to the left, not dramatically increasing spending is a cut. | ||
| In no other part of life or mathematics is that correct. | ||
| Staying at last year's level is not a cut by definition. | ||
| I want to put a pin on what Steve Cortez is saying. | ||
| We're going to come back to it because sensible and has a certain internal logic to it. | ||
| Remember, one of the things we pride ourselves here in the war room is being insensible, that somebody's got to take – somebody's got to be the dead-ender. | ||
| Somebody's got to take the hard line that draws the whole conversation. | ||
| We're going to talk about that because what McCarthy did is quite sensible about how to pull a coalition. | ||
| It is a coalition government on our side. | ||
| And he did take a lot from the House Freedom Caucus. | ||
| Eli Crane is going to be on in the second hour to talk about that. | ||
| We're going to come back in detail on this, but I want to go to Kerry Sheffield, senior policy analyst over at the Independent Woman's Voice. | ||
| A lot of the moderates are jumping in here and saying, hey, what we've got to do is let's have a cooling-off period. | ||
| Let's work out a deal we can live with, and let's get a commission. | ||
| Let's get a commission on Social Security. | ||
| Let's get a commission on Medicare. | ||
| Let's get a commission... on spending. | ||
| Kerry Sheffield, your assessment and analysis of that, ma'am. | ||
| Hey, good morning, Steve. Yeah, I am not buying it for one second. | ||
| I think this is a Trojan horse. | ||
| So what we have is a proposal that's been put forward by, they're calling themselves the Problem Solvers Caucus, 64 members on both the left and the right here. | ||
| And they're trying to say we're the moderates, we're the reasonable, the grownups in the room. | ||
| And what they're proposing is to just kick the can down the road with the debt ceiling. | ||
| So put no strings attached, increasing the debt ceiling through December 31st of this year. | ||
| And then they say, here's their little secret sauce, is that they want to have a fiscal commission to review and recommend a package to stabilize the long-term deficits and debt. | ||
| They say the report's going to be due no later than December 31st, 2024, and must receive expedited consideration with an up or down vote in Congress by February 28th, 2025. | ||
| So I know, Steve, you and I, we weren't born yesterday. | ||
| That sort of timeline, I don't buy it for one second that they would actually adhere to it, let alone actually do anything substantive as a result of this commission. | ||
| This is swamp behavior. | ||
| And, you know, when you're coming out of addiction, sometimes you have to hit rock bottom. | ||
| And the truth of the matter is our debt to GDP ratio is at World War II levels. | ||
| We're spending like there's no tomorrow. | ||
| And here's what's even worse. | ||
| It's projected to get even far greater by 2040. | ||
| than anywhere close to what we saw in World War II. So we're behaving as if we're in a cataclysmic war level spending, but what is this money all going to? | ||
| It's going to people who don't even want to work in order to get welfare. | ||
| It's going for student loan payments for rich upper middle class people to be subsidized by working class families. | ||
| So I'm really upset about this and I agree with you. | ||
| I agree with everything that Steve just said as far as, you know, making sure that we get some sort of concessions here. | ||
| Ours is even tougher. | ||
| We're going to give the number out. | ||
| We appreciate Speaker McCarthy for his effort here of really initiating some action and getting the ball rolling, but we don't believe you need one penny increase to the debt ceiling. | ||
| This ought to be a hard no, and I think we got... | ||
| I think we can get 20 to 40 votes in this, which basically locks it all down. | ||
| Kerry, I want to make sure people get all your analysis. | ||
| Where do they go on social media? | ||
| Where do they go on the website? Because you're going to be a big part of this fight going forward. | ||
| And like I tell people, this is going to be a rolling gunfight from now until the 2024 election. | ||
| That's why this thing's so important. | ||
| Where do people go to get you? Yeah. | ||
| Hey, thanks, Steve. I'm on Substack. | ||
| Would love to connect with folks on there. | ||
| I'm also on Getter and Twitter. | ||
| And yeah, we got to keep beating the drum here because this is I mean, this actually reminds me a little bit of the nuclear deal with Iran when Obama just totally caved. | ||
| Even when Iran was on the ropes. | ||
| And that's when you're supposed to take it to your enemy, when you actually have leverage. | ||
| And instead, Obama capitulated. | ||
| So I hope and I pray that McCarthy will not capitulate. | ||
| And I think getting people to stand in support of what he's doing, I think that's important. | ||
| Kerry, thank you very much. Steve Cortez, what's your famous line to back up, Kerry? | ||
| What's your famous line from The Godfather you always use about when we got the muscle? | ||
| said, let's hit him now while we still got the muscle. | ||
| And right now we have the muscle and we earned the right, right? | ||
| We earned this seat at the table last November by taking that speaker's gavel away from Nancy Pelosi. | ||
| And by the way, to take this macroeconomic discussion to the micro, to what matters, kitchen table, tangible reality for Americans, let's remember this. | ||
| We now have 25 straight months Over two years consecutive, worst streak in American history of crashing real wages, meaning your income adjusted for the goods and services you need to buy in your life. | ||
| That is the reality of Joe Biden. | ||
| That's why a record 70 % of Americans, according to CNBC, not according to us on the right, According to CNBC, all-time record, 70 % of Americans are pessimistic about the economy both now and looking into the future. | ||
| So we are in a deep economic crisis. | ||
| Even if the White House won't admit it, even if NBC won't admit it, it's time to hold the line and start fixing this mess. | ||
| We also know, Steve, I think two-thirds of the American people back us right now that you gotta have cuts. | ||
| They understand this. The people paying for this. | ||
| The middle class, working class understand this all has to... | ||
| It can't go on. The madness can't go on. | ||
| on short commercial break Cortez and I gonna break it all down. We return in the war room. | ||
|
unidentified
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Bye. | |
| And borrowing. | ||
| I mean, whether you're borrowing for a college education or whether you're borrowing for a new car or a used car or you're borrowing for anything. | ||
| Are your credit card costs gonna skyrocket? | ||
| You're gonna have bigger price tax for everything you buy. | ||
| This is gonna be inflation brought to you by Kevin McCarthy's Republican House. | ||
| And of course, the national debt. | ||
| I know they don't care about this because the national debt grew by record rates under Donald. | ||
| How are we bringing in It's so garbled, the thinking over there. | ||
| How are we bringing in inflation? | ||
| How are we being blamed for inflation by cutting the spending? | ||
| How is that working, Steve Cortez? | ||
| What's his twisted logic? Yeah, you know, it's like anybody who's had children knows that toddlers like to talk about backwards day. | ||
| It's like it's backwards day. | ||
| No, this is how we tackle the inflation. | ||
| And by the way, hearing Joe and Mika, hearing them talk about economics, and I'm serious, Steve, it's like hearing Gomer Pyle opine on astrophysics. | ||
| They are so out of their depth. | ||
| They have no idea what they are talking about. | ||
| And the trajectory of the economy under Joe Biden, the man who they do battle for every single day and who they run cover for and act as a PR agency for every single day. | ||
| The trajectory of the economy under Joe Biden is unmistakably miserable for the American people. | ||
| And Steve, the way we know that is not because it's my opinion or yours, because it's their opinion of the American people. | ||
| In every single relevant survey and by every single important metric, the people of the United States are working harder to get poorer every single day, and they know it. | ||
| As I pointed out yesterday, Steve, there was a great article by Paul Bedard in the Washington Examiner about how even in Biden districts of the country, even if you look at the places, the congressional districts that went heavily for Joe Biden, the polling in those districts suggests that the people desperately want to have a deal that reduces the deficit. | ||
| The American people are not dumb. | ||
| That's the reality, Steve. | ||
| Those people think they are. The people need to sell a corridor in New York newsrooms and in K Street lobbying offices. | ||
| They think the American people of the deplorables are stupid just because they might not have fancy credentials. | ||
| But the American people understand that the inflation they are experiencing every single day at the grocery store, all over the rent check, everything in their life that's getting more expensive and their pay can't keep up, they understand intrinsically, even if they're not economically trained, that that is tied directly to the exorbitant borrowing and spending In Washington, D.C., and they desperately want and demand that Washington, D.C. get serious about starting to fix this problem. | ||
| That's why, look, it's not just the right thing to do for the country to hold the line in these negotiations. | ||
| And these are tense times, Steve, these coming days and weeks, but these are exciting times. | ||
| It's exciting because, again, We earned this lever of power. | ||
| We earned a say in this process because of what we did last November. | ||
| We didn't win the way we wanted to, but nonetheless, we got this important victory. | ||
| And I think Kevin McCarthy, given the limitations on him, okay, given the fact that there are dozens of members of the Republican caucus who, let's face it, are in no way conservatives. | ||
| They are uniparty Washington permanent political class operators. | ||
| Given those limitations, I think this is an excellent starting point for negotiations from Speaker McCarthy saying, first of all, stay at last year's levels on spending. | ||
| That was too much, but we're going to stay there. | ||
| We're not increasing anything by a dime. | ||
| Do no harm. Sort of the hypocritical oath of the budget, okay? | ||
| We're going to do no additional harm. | ||
| That is a great place to start. | ||
| And the fact that the left is howling in horror and trying to claim that it's a cut because you're not extending and expanding their ridiculous programs shows you how unserious they are. | ||
| And if we have to come down to a point where the debt ceiling cannot be, Where there's no concessions from the left, so be it. | ||
| And guess what? It's then the White House's problem to deal with. | ||
| And it is up to them to prioritize payments. | ||
| There's no need to default. There's no need to not get checks out for Social Security and for Medicare. | ||
| We can do all of that. | ||
| We can do all of that and more. | ||
| It's just a matter of it's going to be on them to then prioritize which payments come first. | ||
| And that will actually be a fascinating exercise to find out exactly what this White House prioritizes and what it doesn't. | ||
| 202-224-3121 is the house. | ||
| We recommend you give your representative a call this morning. | ||
| Of course, we're not here to tell you what to say, but you've had the opening bid. | ||
| Ours is—we're a little more hardcore. | ||
| Ours is not one penny increase to the debt ceiling. | ||
| Let's see the cuts. Let's see the massive—there's enough cuts you can make right now under prioritization of payment. | ||
| You're the creditors committee. | ||
| We will never jeopardize the full faith and credit of the United States because you are the full faith and credit of the United States. | ||
| There's a way to do this. | ||
| We just got to be hardcore. But I do give a head tip to Speaker McCarthy on a very impressive... | ||
| Our opening bid from him, our opening bid would be, hey, here it is, the scene in The Godfather. | ||
| How about this? Nothing. | ||
| You pay for my casino license. | ||
|
unidentified
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Senator Geary. Senator Geary, how about this? | |
| You pay for it. No, we're hardcore. | ||
| But I want everybody to call 202-224-3121. | ||
| Give your House member an ear for it, particularly... | ||
| If they're one of these Main Street guys that want to commission, no more commissions. | ||
| Steve, you agree? We don't need any more commissions. | ||
| We know what the problems are. We don't need a bunch of guys sitting around for a year. | ||
| I mean, do you agree? | ||
| The commission, they've done this before. | ||
| And the commissions never get acted upon. | ||
| Things get acted upon when you have leverage and there's a ticking clock of when they run out of money. | ||
| And that's where we are right now, sir. | ||
| Your thoughts? No, this ridiculous notion of a commission, okay, what that reveals is the total lack of seriousness and the lack of urgency in Washington, D.C. And Steve, I would suggest one of the reasons that there's a lack of urgency is because the people who physically live in Washington, D.C. and the people who are connected to Washington, whether they live there or not, okay, the people who benefit from the current system, from the administrative state and the permanent political class, They are not feeling the pinch of inflation, because let's be honest, it doesn't really matter to them. | ||
| So if you're a very wealthy lobbyist in Washington, D.C., it might annoy you that your prices have gone up at the grocery store and at the gas pump to put the gas into your luxury SUV, but it is not changing your life. | ||
| However, for that single mom waitress, In the middle of the country, it is absolutely life-changing right now. | ||
| The realities, the anxieties of a crashing economy combined with rising prices. | ||
| We talked about this yesterday. | ||
| J.B. Hunt, one of the biggest trucking firms in the United States, said what they are facing is They are facing falling prices, deflation on the prices they can charge customers, and inflation, rising prices on the input costs, particularly energy for them, that they have to pay. | ||
| That's the definition of an economic vice, of a brutal economic squeeze. | ||
| Well, it's not just happening to big firms like J.B. Hunt, as important as that is for us. | ||
| It's happening to American families all over the country. | ||
| So there's a lack of seriousness among far too many politicians in Washington, D.C. There's a total lack of urgency. | ||
| But thankfully, Speaker McCarthy seems to have a total sense of urgency. | ||
| And again, I think this is a great opening bid. | ||
| It's a great opening spot to begin the negotiations and show Washington that we're serious about this and that deficit reduction matters to the United States. | ||
| It matters to regular Americans. | ||
| This inflation is out of control. | ||
| When you combine that with wages that can't keep track so you have falling real wages, the point is the prosperity of the American people is suffering greatly and it demands immediate action, not some commission that will get back to us in a year. | ||
| Let's go ahead and talk about the microeconomics. | ||
| I want to play the white chalk talk you gave a couple of months ago and they're finally catching up with us today. | ||
| Let's go ahead and play it and then you can comment about how this is impacting the American people. | ||
| Patriots. Tragically, massive corporate layoffs. | ||
| They are accelerating, especially in the tech space. | ||
| But one job that's very much in demand? | ||
| Being a repo man. Because Americans cannot afford their cars. | ||
| Let's look at the numbers in a chalk talk. | ||
| Last year, 2022, Americans lost $1 trillion in real disposable income. | ||
| That was the worst percentage drop since the Great Depression. | ||
| Making it incredibly hard for Americans to deal with rising interest rates and more expensive loans on things like automobiles. | ||
| Car payments, $1,000 a month or higher, that's now 16 % of all auto loans. | ||
| All-time high. For context, three years ago that number was only 6%. | ||
| Which translates into a giant jump in the percentage of Americans who are severely delinquent in their auto loans, meaning they haven't paid in three months. | ||
| We just put in a number of almost 6 % there, which is worse than the levels of the Great Recession of 2008-2009. | ||
| Patriots, these numbers, this economic reality makes it imperative that the House GOP hold the line regarding the debt ceiling. | ||
| Okay, I'm going to get Cortez. | ||
| By the way, I think I might have given the wrong. | ||
| It's 202-224. | ||
| 224 is the Senate. 225, can I check that out? | ||
|
unidentified
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225 is the House? Which way is it? | |
| 224 is the House. Okay, I'm getting conflicting. | ||
| I'm getting conflicting. I've got the war room engine room telling me something different. | ||
| Let's get that sorted. 225 is the House. | ||
| 225 is the House? Okay, 225. | ||
| I want to make sure we got that. | ||
| Your House number is 202-224. | ||
| 225-3121. We're going to cut a trillion dollars. | ||
| We can't get the right number. Okay, it is 202-225-3121 is the house. | ||
| Make sure you call. You heard the opening gambit from Speaker McCarthy. | ||
| His is to go back to 2022 numbers, only have 1 % increase over time. | ||
| There's, I think, $4.5 trillion, Steve, cuts in what he's proposing over time. | ||
| We are obviously something – you think that's a good open? | ||
| I think it's a very interesting – To put on the table because he's trying to get to 218. | ||
| His issue is not our issue. | ||
| Our issue is different. Our issue is to force these guys to understand we're not going to increase the debt ceiling. | ||
| That they got to come up with the prioritization of payments. | ||
| Now is the most important teaching moment that we could ever have. | ||
| And this teaching moment is incredibly important. | ||
| Because the future of the country hangs in this. | ||
| Real quickly, Steve, I want you to hold through the break. | ||
| RepoMan, Bloomberg's caught up with this. | ||
| And by the way, you're so prescient because the cuts are even coming bigger on Meta and these other places. | ||
|
unidentified
|
Tell me about the RepoMan. Yeah, so this is a Bloomberg headline from yesterday. | |
| The repo man returns as more Americans fall behind in car payments. | ||
| And I'd like to point out the War Room audience, that shock talk you just played, that is from January 29th. | ||
| So we were several months ahead. | ||
| We always like to pave the way for Bloomberg and the rest of the legacy media to come back. | ||
| But listen, all kidding aside, there's nothing funny, of course, about Americans losing their cars. | ||
|
unidentified
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And that is intensifying and accelerating. | |
| I tell you, this is terrible. | ||
| You're going to see a lot more of this. | ||
| The tech layoffs are actually increasing, kind of accelerating at an accelerating rate. | ||
| Okay, short break. Cortez is going to hang with us, get some more capital markets, economics to talk about. | ||
| And then we're going to talk about the Chinese Communist Party, all next, in the War Room. | ||
|
unidentified
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We rejoice when there's no more. | |
| Let's take down the CCP. They have our life for too long. | ||
| Here's your host, Stephen K. Battles. | ||
| And we're ignoring the business roundtables of America who are crying out. | ||
| For employees to work alongside of Americans. | ||
| Let me be very clear. We have jobs for Americans. | ||
| We have tech jobs for Americans, teaching jobs for Americans, law enforcement, firefighter jobs for Americans. | ||
| But we're a growing nation and we need to be able. | ||
| What have people said? | ||
| What have our friends to the north said? | ||
| Canada said we need to build. | ||
| Okay, welcome back. | ||
| By the way, we just got a call from a pizza place over in Capitol Hill that said they're swamping. | ||
| I'm just kidding. Okay, you go to 224-202-224-3121. | ||
| They'll connect you anywhere. The direct dial numbers, if you look up your senator, and you should do that so you don't have to go to the switchboard, is 224, and the House members are 225. | ||
| But we just checked. If you call 224-3121, you can get to anybody. | ||
| And I'm just kidding about the pizza parlor. | ||
| Steve Cortez. She said the quiet part out loud there. | ||
| She's dragging about. Hold it. | ||
| She's supposed to be a populist, supposed to represent the people. | ||
| She's referencing the business council that always wants the cheapest labor. | ||
| This is great. Her staff's just doing such great for her. | ||
| Tell us what that's about, Cortez. | ||
| Yes. No, it's almost too good to be true so that Sheila Jackson Lee, one of the most progressive members of the entire United States Congress, and clearly telling the American people in plain English that we are taking the direction of the Business Roundtable. | ||
| So that is yet another important data point, more evidence of the union between the secular humanist radical left And big business. | ||
| They have an unholy alliance to push globalist policies, including open borders. | ||
| Why? Because the leftists believe that they're going to import new voters, new constituencies for their policies. | ||
| I'm not sure that's even true, but that's what they believe. | ||
| And because big business wants cheap labor. | ||
| That is the reality. And remember, at a time, as we were just discussing, when real wages are crashing for Americans, and Steve, this is also important. | ||
| When millions and millions of Americans have simply dropped out of the labor pool, so they don't count as unemployed according to economic statistics anymore, because they have dropped out, which is even worse than just being unemployed, than just being in between jobs. | ||
| And I want to show this in chart form, by the way, what we are doing right now. | ||
| in the United States in terms of importing workers. | ||
| And I'm talking now about the legal side, not the illegal side, which of course should be absolutely at zero. | ||
| I'm talking about legal migrants to work in the United States, whether it's by work visas or through regular immigration flows. | ||
| And this is chart number one, please. | ||
| This is from the Wall Street Journal. | ||
| This is foreign-born labor force by the millions. | ||
| That chart goes back five years to 2018. | ||
| As you can see, not surprisingly, in Donald Trump's term, particularly during 2019, that number was steadily ticking downward, which I would argue is a very good thing. | ||
| In other words, American citizens, whether native-born or legally naturalized to this country, American citizens were being prioritized. | ||
| Fewer and fewer foreign workers, legal foreign workers being imported into the United States. | ||
| It then went far lower during 2020, not surprising because the entire world was locked down, including the U.S. But what has happened since then and what has particularly happened under Joe Biden, this number is soaring. | ||
| So we went from 19 million foreign-born workers in the labor force to 22 million. | ||
| We increased 3 million foreign workers At a time, Steve, when American workers are struggling to simply pay their bills. | ||
| This is globalist lunacy. | ||
| How about we take care of our own people first? | ||
| And by the way, I would draw a contrast here, Steve, to this issue of migration. | ||
| Of course, they're very much connected, migration and the economy, but to migration and the debt ceiling negotiations, where you and I take a very harsh stance, which maybe isn't politically possible on Capitol Hill, but it's important for us to be here nonetheless to try to move the center. | ||
| So when it comes to legal immigration, I believe the correct number is zero, okay? | ||
| It should be zero. Now, is that politically possible in the near term? | ||
| Probably not, but I think we need to make the policy case why it should be zero so that we can at least reduce legal immigration and we can eliminate illegal immigration. | ||
| So it's very similar to the debt ceiling situation, Steve, is the point that I'm trying to make here. | ||
| So you and I would probably do something that is far more harsh regarding budget cuts, not just stopping the increases, but actual budget cuts. | ||
| But I also am very cognizant that Speaker McCarthy faces a caucus where he doesn't have much wiggle room, politically probably can't get that done. | ||
| And so I think he's starting from a pretty sensible place. | ||
| So it's important, Steve, too, though, I think we need to realize this. | ||
| When we take positions that might seem extreme, at least to the ruling class, But they are backed by facts and arguments and persuasion. | ||
| When we make that case, we can move the political center. | ||
| I think that has already happened on the economy and on the deficit. | ||
| I think it's starting to happen on immigration. | ||
| Let's move the center. | ||
| That's important, and I think that's a big part of what you do and what this show does. | ||
| Yeah, that's what we need to do on everything, on Ukraine from the invasion on the southern border to Ukraine. | ||
| Our war with the CCP. One more element before I let you go, Steve, is about commercial real estate because I'm very concerned. | ||
| Here's the counterargument that's about to happen in this whole debt debate. | ||
| You heard the trial balloons going up on Morning Joe and with Zen master Jean-Pierre. | ||
| They're going to say, hey, the bottom's falling so far out of the economy, we need a stimulus. | ||
| One of the things they're going to point to is commercial real estate. | ||
| Steve Schwartzman Who's pro-CCP, no friend of MAGA, but a very smart guy from Blackstone. | ||
| Tell me about the reporting today about commercial real estate. | ||
| So Blackstone earnings out today, not to be confused with BlackRock, by the way, even though the two firms have a lot in common and certainly have a very similar worldview. | ||
| And what I mean by worldview is a complete leftist, globalist, anti-American, anti-American worker agenda. | ||
| But nonetheless, as I often point out, Steve, these companies are very important to watch, all right? | ||
| Even if you revile these firms, and I certainly do, they're still important reflections of where the U.S. economy is and where it is headed. | ||
| And if you look at Blackstone, which is traded by the ticker BX, Blackstone issued its earnings today, and these were the results. | ||
| Year-over-year earnings down 36 % and specifically cited, quote, a weak property market. | ||
| And property market there, they don't mean residential, they mean commercial real estate. | ||
| So it is becoming more and more apparent, Steve, to more and more people and more firms that the commercial real estate situation in the United States is bad and it is worsening. | ||
| And I would argue that the risks in 08 and 09 were almost entirely in residential real estate, in regular individuals signing no-doc liar loans. | ||
| That is thankfully completely gone. | ||
| If anything, the credit standards are very, very tight, maybe too tight on the residential side. | ||
| But we have the exact opposite now on the commercial side. | ||
| So particularly as it pertains to downtown office space, that's where the risks are. | ||
| And the results today from Blackstone is yet another data point, I think, proving that thesis that the emerging risks in commercial real estate are intense and that they have ramifications for the entire economy. | ||
| But again, the White House will claim that that's a reason to further stoke inflation, which only makes the commercial real estate situation worse. | ||
| It's the exact opposite. It's like a doctor saying, we're going to cut you and bleed you to heal you. | ||
| No, we're not going for economic bloodletting or blood leaching, okay? | ||
| We will not Fall for that. | ||
| The way to get commercial real estate back on a positive trajectory is to get inflation again under control. | ||
| How do we do that? By holding the line here on spending. | ||
| I'm confident that Speaker McCarthy and the House GOP are going to do that, but let's hold their feet to the fire. | ||
| Cortez, how do people get to you on Substack and your social media? | ||
| Yeah, please find me. And by the way, on commercial real estate, I have an article that I encourage folks to read on exactly this point, The Syllabus of Economic Errors. | ||
| You can find me at stevecortez.substack.com. | ||
| On the Twitter, I'm at Cortez Steve Cortez with an S. Thank you, Admiral Bannon. | ||
| Appreciate it. Thank you, Steve Cortez, always sharp on focus and months and months and months ahead of the corporate business media. | ||
| Also, look, I think Cortez makes some very solid points. | ||
| I think Speaker McCarthy makes some solid points. | ||
| I know there's a number of the House Freedom Caucus people that are coming in line on this. | ||
| Remember, their situation is not our situation. | ||
| They've got to get to 218. | ||
| You're the creditors committee. | ||
| The creditors committee right now has got to take a much harder stance. | ||
| And that stance is, hey, show me the money or show me the cuts in this regard. | ||
| It's quite simple. | ||
| We're hardliners. | ||
| Not one penny, not even close to a penny relief on this debt ceiling. | ||
| You've got to come with a plan that has massive cuts so we don't hit up against it. | ||
| And then prioritization of payments that can bridge us through as we pay the interest and pay any government securities coming due. | ||
| As you see today, this is just the opening salvo for Morning Joe. | ||
| You're going to be called every name in the book. | ||
| But you have to remember, the credit of the United States rests upon your shoulders. | ||
| You are the full faith in credit. | ||
| And what would you do as a good householder? | ||
| What you would do is draw a tough, hard line. | ||
| This madness has to stop. | ||
| Somebody has to lance the boil. | ||
| This audience is the one to lance it. | ||
| So make sure you make contact today and get your voice out there. | ||
| There's tons of information. | ||
| I'm putting it up on Getter nonstop. | ||
| You can get it. We're going to put it up on the site. | ||
| Just get to immerse yourself in all this. | ||
| Make sure you go to birchgold.com right now. | ||
| I wrote something about this called The Debt Trap. | ||
| A couple of months ago, but it's ripped from today's headlines. | ||
| Go to birchgold.com slash Bannon right now and get it. | ||
| Immerse yourself in this. Go take Peter Navarro's macro course. | ||
| I think it costs $12. Go take that. | ||
| Even if you've never graduated from high school, even if you never got out of the first year of high school, we make this accessible to you. | ||
| Because at the end of the day, it's common sense, and we explain it to you in a common sense way. | ||
| Also, talk to the Birch Gold guys about precious metals, particularly as a hedge against inflation, gold and silver. | ||
| So go check it out today. Let's play. | ||
| The great Grant Stinchfield went off last night on a very important topic. | ||
| I've got Matt Palumbo and Jane Zirko going to join me here. | ||
| But can we play the call open of Grant from last night? | ||
|
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This was the head of this Chinese police station. | |
| He gets arrested and is bailed out almost instantly. | ||
| Okay? Now, if he's a Chinese agent, how is he getting bailed out instantly? | ||
| Well, when you look at the indictment, and I have a few of the pages here, the indictment against these 34 and the two arrested reads like a Chinese Communist Party manifesto of how you destroy not just Chinese dissidents in America, but American society and the value system in general. | ||
| On one of these pages, it spells out what they call the 912 Project, which was Chinese agents to disrupt the American value system using social media accounts and the like. | ||
| And we'll pull it up here. | ||
| At one point, they received a cable tasking them to, quote, take advantage of George Floyd's death of the second anniversary. | ||
| and reveal law enforcement's brutality and racial discrimination. | ||
| They wanted to sow dissent inside the United States to bring us down. | ||
| Well, lo and behold, guess who warned of this? | ||
| Remember who I tell you about all the time? | ||
| Miles Guao, the Chinese billionaire who now sits in a federal prison. | ||
| Mind you, no bail for him. | ||
| CCP enemy number one, but the CCP agent is bailed out. | ||
| Well, Miles Guao warned of this exact thing years ago. | ||
| Roll that clip. CCP is wiping out white people. | ||
| I have been saying this since 2017. | ||
| What is CCP's intention in waging war against the world? | ||
| It is to use yellow, black, and brown people, who make up almost 75 % to 80 % of the world's population, to wipe out white people. | ||
| The correct saying is that CCP has spread the idea that white people caused all racial conflict. | ||
| CCP's biggest conspiracy is to use this idea to take over the world. | ||
| This is a serious issue that no one dares to talk about, and no one dares to even say it. | ||
| you Palombo, real quickly, we got 30 seconds, I'll bring you back. | ||
| But the Minister of State Security guys running the police stations illegally in New York get rolled up. | ||
| They get bailed out in the afternoon. | ||
| In the indictment, their number one guy they're after, the number one target is Miles Guo. | ||
| He still sits in jail. | ||
| What's up? Well, the system is rigged. | ||
| And also, you know, the name, the 912 group, you might notice 912 is September 12th. | ||
| That's the date that Miles Guo filed for asylum. | ||
| So they are almost trolling or mocking him with the name. | ||
| And when you read the indictment, it proves that there is a conspiracy against Miles, and they refuse to name him in the document because while the FBI admits this, the DOJ is simultaneously trying to claim he's a fake whistleblower, while their own FBI says the opposite. | ||
| So they are in really a web of their own contradictions here. | ||
| Hang on, we're going to bring you back because there's a federal trial going on at the same time that he's the number one target in the DOJ, which has spread money like crazy. | ||
| Okay, short break. Back in the warm in just a moment. | ||
|
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We will fight till they're all gone. | |
| We rejoice when there's no more. | ||
| Let's take down the CCP. Arrived, the new social media taking on big tech, protecting free speech, And canceling cancel culture. | ||
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| It's time to say what you want, the way you want. | ||
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| Yeah, there's a bunch of articles I've got up on Getter where we try to immerse you in all the different aspects of what we're covering here on the show, and it's really about Governor DeSantis' failure to launch here. | ||
| I don't think there's any doubt right now that what Governor DeSantis should do is very much focus on Florida, very much focus on Florida, having a great run in the second term. | ||
| He's done so much for the state already. | ||
| Prepare himself for 2028. | ||
| To get into a primary now, and let's be blunt, it's a failure to launch. | ||
| The situation on Capitol Hill the other day was just an unmitigated disaster. | ||
| He's just not ready for it. | ||
| He's doing a great job in Florida, but that's not the scale you've got to roll in. | ||
| It is, I think, in his best interest, in MAGA's best interest, in our movement's best interest, in the country's best interest to continue to have a great run, the great battles you've got against Disney, other world companies, and what you're trying to do in Florida, which is incredible. | ||
| But hey, I give my advice, and you take it, you take it. | ||
| If not, it's going to be a long, tough slog, because it has not started off very well. | ||
| I want to go back to Matt Palumbo. | ||
| Here's the thing. Miles Guo did something for this country that is of the utmost importance. | ||
| Before Miles Guo really came to the West as a whistleblower, because he was dialed in as a businessman, as many of these businessmen like Jack Ma and these guys are, he was a whistleblower to their corruption. | ||
| He was a whistleblower to their real intent. | ||
| And his biggest thing he did, he says, in the West, you've got to separate out the CCP from the nation of China and the Chinese people, Lao Beijing. | ||
| Because, you know, we were all allies in World War II, and La Beijing has a great affinity for the American people, as the American people have for the Chinese people through our entire history. | ||
| The Chinese Communist Party is a gangster organization. | ||
| And since that time, if you go back from where it really came to the West in 2017, we have, and I know I have, really focused on identifying the Chinese Communist Party as the central... | ||
| Existential threat, not just to the United States and to our citizens, but to the Chinese people. | ||
| And that is caught on quite big. | ||
| You can tell in speeches. You can tell in focus. | ||
| And they hate it. They hate it. | ||
| And that's why there's a massive effort. | ||
| It's always been a massive effort to extradite Miles Guo back to China and to immediately execute him. | ||
| That's what they're trying to do. | ||
| It's quite simple. And you've got a huge case. | ||
| There's no coincidences in the world. | ||
| You have two things that are happening right now. | ||
| You have a massive federal case in D.C. District Court. | ||
| And you have Leo DiCaprio coming in, you have all these movie stars, and it's almost crickets. | ||
| Our Jane Zirkle's covering it. | ||
| And the types of numbers they're talking about, this JOLO, this Malaysian billionaire, was going to put $40 million into the Democratic Party as a foreigner. | ||
| And Leo DiCaprio's up there for two hours on the stand, Leo DiCaprio up there, and there's almost no coverage. | ||
| Where normally there would be a bevy of photographers around all that. | ||
| And he talks about, yeah, this guy's talking about it all the time, putting $40 million into the Democratic Party. | ||
| The numbers are talking about the extradition of Miles Guo. | ||
| Higginbotham is an employee of the Justice Department. | ||
| The Chinese Communist Party gave him $40 million. | ||
| This is some mid-level guy, $40 million to work on extraditing Miles Guo. | ||
| The rapper who's actually up on the charges, the amount of money they were giving him to make sure this could happen. | ||
| Steve Nguyen, a major entrepreneur and quite frankly very close to President Trump, has been well documented, went out of his way and he was going to get a bonus. | ||
| And Brody was going to get a $15 or $25 million bonus to extradite Miles Guo back to China. | ||
| Now we have the whole situation of the police stations in the Chinatown. | ||
| Matt Plummer, come in here. | ||
| The entire state security apparatus is around Miles Guo, the 912 project. | ||
| He's victim number one, which they won't mention. | ||
| And in any of this documentation, whether in the court or whether here, they will never mention Miles Guo's name. | ||
| The reason is it shows you the corruption of our system. | ||
| We have a freedom fighter that's been our greatest ally in identifying the number one existential threat we have in this country, which is the criminal element of Beijing and who they've paid off as a fifth column in our country. | ||
| Matt Palumbo. Yeah, I mean, the extent of the conspiracy, and I think it is an appropriate word in this context, is incredible. | ||
| There are all these various cases involving Guo, and in almost every case, there is a tie back to the CCP somewhere. | ||
| But the biggest thing here is to keep him from testifying and from speaking. | ||
| In this new FBI document, he is listed only as Victim 1, but it is almost comical, because they will describe him to a T, where there is no doubt that it is him, but then put it as Victim 1. | ||
| They will describe his followers. | ||
| And it does give the impression that the number one goal of this 9-12 group was take down Miles. | ||
| And you were saying about some of the almost bounties on Miles. | ||
| It seems like $40 million is just the going rate to try to deport Miles. | ||
| I think I made the point on the last show, these are just the ones we know of. | ||
| If they're willing to pay $40 million to a couple of people here and there, what is the sum total and what are they trying to cover up? | ||
| I would say it's probably in the billions and it has to be something big. | ||
| Even before Miles came to the US as a whistleblower, He was already a successful businessman, so you can't accuse him of fraud. | ||
| And he already had uncovered things that put various CCP officials behind bars. | ||
| So we know he's legitimate, and there is a coordinated effort to censor him. | ||
| So in the Pras-Michel trial, you know, you mentioned lead Arnold DiCaprio has testified. | ||
| Well, they want to get Guo to testify as well, but they are preventing Michelle's lawyers from even serving Guo, which is a bit odd. | ||
| And the reason why is because he will further expose the DOJ And FBI corruption. | ||
| And also of note, people like Hickenbotham, he got a plea deal. | ||
| He got no jail time. The only people in the whole Pras-Michel trial who's actually facing consequences is Michelle. | ||
| And the fear I gave last time was he's the fall guy. | ||
| He's the guy who has got a pretty sketchy past. | ||
| And if you're going to stick it on someone, you stick it on that guy, well, all the higher ups in the DOJ and FBI, you let them get off, don't have it make headlines, and don't let Miles testify to expose the true extent of what they were doing. | ||
| Matt, your reporting on this has been amazing. | ||
| Thank you. How do people get to you? | ||
| I know you run the Dan Bongino operation. | ||
| How do folks get to you? Right, so monginoreport.com. | ||
| I'd love to see it up on the screen. | ||
| That's our competitor to Drudge, and hopefully we do a much better job. | ||
| On Twitter, it's mattpalumbo12, and same thing on Getter. | ||
| You're doing incredible reporting. | ||
| And by the way, Dan Bongino's site drudges no competition. | ||
| You guys blow it away. It's incredible. | ||
| Great news. Always ahead of the topic. | ||
| Bongino's fantastic. And you're a great guy to have as his partner, the editor of it all. | ||
| Thank you very much. Short commercial break. | ||
| Jane's going to join us a little later. | ||
| We're going to talk about a trial. | ||
| They got Miles in jail, so he won't testify in open court. |
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